Are you missing out on the benefits of budgeting

Are you missing out on the benefits of budgeting

Larger companies prepare regular budgets or forecasts. Yet, in most owner-managed businesses there are no budgets or forecasts. Ask them why and they’ll give you all sorts of reasons. They haven’t got time. The current climate is so uncertain its nearly impossible to...
Are you missing out on the benefits of budgeting

How banks evaluate lending requests

I was talking with a banker recently about their lending policies at the moment. One thing was very clear. In the current climate, they expect companies to have up to date accounts. The days of the bank accepting accounts from many months ago are gone. Now they are...
Are you missing out on the benefits of budgeting

A framework for Improvement: TOTE principle

Applying the TOTE principle to business. In personal development work, the TOTE principle is an iterative problem-solving strategy using feedback loops. This principle can be applied equally well to business. The First T is for Test. Test the environment and identify...
Are you missing out on the benefits of budgeting

Getting Better information from your Accounts

I remember once attending an Insolvency Update. One of the speakers, who regularly works on examinerships, commented on the lack of good accounting information in most of the companies that go into examinership. This really struck a chord with me. In most of the...
Are you missing out on the benefits of budgeting

Simple tips to improve Cash Collection

Cash collection is often an an issue for businesses.  It’s very important to find a working way to be able to implement cash collection since giving credit is at times unavoidable in many businesses. Over time, I have accumulated a number of tips you can use to...
Bridging the Gap Between Operations and Finance

Bridging the Gap Between Operations and Finance

Yesterday, I was asked for more context about “bridging the gap between operations and finance”. That phrase was said to me by a participant after a training workshop and I felt that it is a good summary of what I try to do. I was a late convert to accounting, having...

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Doing Business in a Time of Crisis

Doing Business in a Time of Crisis

In early December last, I participated in an online Webinar Series organised by Udaras na Gaeltachta. The theme of the series of “Webinars was Doing Business in a time of Crisis” and my topic was “Regenerate Your Business”. Here is a recording of my...

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